This page has been archived and commenting is disabled.

Presenting The College Whose Graduates Have A 62% Student Loan Default Rate

Tyler Durden's picture


It is common knowledge by now that the US has a student loan problem. Specifically, a subprime-sized, student loan default problem, which as was reported last year, has now surpassed a 23% default rate at "for profit" institutions. Yet as all statistical measures, this one too deals in means and medians: very boring, impersonal metrics. Where the truly stunning data emerge is when one performs a granular college by college analysis of the US higher learning system, which is precisely what the WSJ has done, breaking down some 3500 colleges and universities by annual cost, graduation rate, median amount borrowed and most importantly, student-loan default rate. In this context we feel quite bad for the students who graduate from ICPR Junior College of Puerto Rico (or rather the 52% of them who graduate), with a modest $2,250 in student loans to cover the otherwise manageable tuition of $7,158, as a mindboggling 62% of them end up defaulting on their loans!

Who else made the list of the college with the highest default rates? Here is the first page of many in a descending sort by the highest student-loan default rate:

What is quite stunning is that there are 553 colleges in the US that have a student loan default rates of over 25%.

Alternatively, if one sorts by the most expensive colleges in the US to get a sense of what opportunities some of the most respected institutions in the US offer their grads (at least based on how much is paid for the education), one gets these results:

There is much more in the full interactive list (here), although we do caution that the results may be somewhat problematic, as somehow Berea College of Kentucky, which supposedly costs negative $20,746 per year, has its students borrow $6,500 on average, with 5% of them defaulting on ther loans.


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 02/19/2013 - 16:44 | 3257330 Aziz
Aziz's picture

Horsemeat education.

Tue, 02/19/2013 - 16:45 | 3257334 john39
john39's picture

horsemeat reality

Tue, 02/19/2013 - 16:54 | 3257371 ACP
ACP's picture

Fresh meat for Baby-Daddy.

Tue, 02/19/2013 - 16:55 | 3257381 Kitler
Kitler's picture

Only 62% ?

Just wait a while...

Tue, 02/19/2013 - 16:58 | 3257387 camaro68ss
camaro68ss's picture

I know people who are 26 years old and have there masters, working at night clubs because its the only job they can find.


What a joke college is

Tue, 02/19/2013 - 17:00 | 3257394 Careless Whisper
Careless Whisper's picture

The people at the WSJ need some college. PR (Puerto Rico) isn't a State. You can take the top five colleges off the list. The real winner is in CA, which is a state, although Communist.


Tue, 02/19/2013 - 17:02 | 3257403 macholatte
macholatte's picture





Mo. House Bill Makes Proposing Gun Control Illegal

Tue, 02/19/2013 - 17:10 | 3257420 The They
The They's picture

Fuck! why did I major in continental philosophy? I’m an idiot!

Tue, 02/19/2013 - 17:15 | 3257433 dwdollar
dwdollar's picture

Oh no, here come the Boomers who graduated in 1970 professing how much demand there is for STEM jobs and how everyone should be a Dilbert working for Uncle Scam or one of Uncle Scam's corporations designing the enslavement grid.

Tue, 02/19/2013 - 17:32 | 3257479 Pladizow
Pladizow's picture

I wonder if they teach Puerto Rican Judo? -

"Judo know I got a gun?"

Tue, 02/19/2013 - 17:40 | 3257506 AssFire
AssFire's picture

Puerto Ricans.... probably all flunked Spanish and still got worthless degrees.

Tue, 02/19/2013 - 19:11 | 3257665 TwoShortPlanks
TwoShortPlanks's picture

The US has an environment which has and continues to, actively market that 'Free For All' is a right of every American, while at the same time we are seeing a 'Default Is Ok' mentality rapidly building in the average persons' psyche. The ultimate financial Moral Hazard is building.

What was that old saying about free lunches?

East & West, the Yin & Yang producer/consumer dance.
Part 1:
Part 2:

Remembering of course, that China cannot simply push past the West when its' economy is based almost entirely upon making stuff which the west buys, and we are buying less and less of it as this global shrinkage progresses. They will need to swap places with the West or else contract in unison with the Wests' contraction of consumption. So if the West goes down, so too does China.

Question: Can China end this producer/consumer relationship without destroying itself in the process?
Answer: They can't and that's the only reason why the US can print without consequence...coz they know China knows this reality also.

And don't for one minute believe that China will simply increase its own internal consumption in place of production, that's not the mentality they have.

Chinas' only solution: Set-up a wealth transfer mechanism and simply swap places with the West (either that or War).

And what is China doing? Buying as much Gold as it can of course!

Back to this thread topic; does anyone really believe that the West has a chance, given the state of all that we know right now?

PS. When I say "West", that includes places like Japan...debtor nations!

Tue, 02/19/2013 - 19:31 | 3257774 krispkritter
krispkritter's picture

BTW, if your kids are headed to college please remember to disarm them:

And if they try this in NY, where you can't buy SuperSize sodas, I'd recommend carrying Ipecac because peeing on demand is going to be tough...

Tue, 02/19/2013 - 19:42 | 3257792 Fredo Corleone
Fredo Corleone's picture

"Repayments ? We don't make no steenkin' repayments !"

Tue, 02/19/2013 - 20:26 | 3257882 clymer
clymer's picture

Saved and paid cash for tuition -in-state at U-Mass (helped with GI bill, and reimbursement program from employer).

Fuck student loans

Tue, 02/19/2013 - 21:02 | 3257957 nmewn
nmewn's picture


I heard about that...apparently the altitude is getting to them out there in Colorado...

“It’s why we have call boxes, it’s why we have safe zones, it’s why we have the whistles," Salazar said, according to KDVR News. "Because you just don’t know who you’re gonna be shooting at. And you don’t know if you feel like you’re gonna be raped, or if you feel like someone’s been following you around or if you feel like you’re in trouble when you may actually not be, that you pop out that gun and you pop -- pop around at somebody.”

You see "children"...women can't make informed decisions about their personal well being & security...Representative Salazar just said so.

Blow the whistle, then just lay back and enjoy it ladies...someone with a gun will be around shortly to take care of it FOR YOU ;-)

Wed, 02/20/2013 - 00:15 | 3258460 derek_vineyard
derek_vineyard's picture

No draft next war.  Every person having student debt will serve 1 day for each $100 owed, starting with those in default and working backwards to those most indebted.  How things go full circle!

Tue, 02/19/2013 - 17:31 | 3257476 dark pools of soros
dark pools of soros's picture

3D printing makes gun control irrelevant.. The push now is to regulate gun powder

Tue, 02/19/2013 - 17:58 | 3257554 Osmium
Osmium's picture

Looks like they are already regulating ammunition.  Not much for sale out there.

Tue, 02/19/2013 - 19:00 | 3257706 A Lunatic
A Lunatic's picture

The 2nd amendment already makes gun control irrelevant..........

Wed, 02/20/2013 - 04:41 | 3258711 Fedaykinx
Fedaykinx's picture

stock up now.

Tue, 02/19/2013 - 18:09 | 3257587 Bandit und Buster
Bandit und Buster's picture


Tue, 02/19/2013 - 18:17 | 3257613 chubbar
chubbar's picture

Well, proposing gun control IS illegal. All state representatives as well as federal office holders take an oath the uphold and defend the constitution of the United States. The 2nd amendment of the constitution states that no law shall be passed that infringes upon the right to bear arms. So, any state representative, congress critter, senator, president or any other asshole doesn't get to infringe upon my right to bear arms without having already violated his/her oath of office. Any questions?

Wed, 02/20/2013 - 01:58 | 3258603 ricky2
ricky2's picture

Well of course you have the right to bear arms, you're just limited to how many claws that said bear arms are allowed to have

Tue, 02/19/2013 - 23:49 | 3258416 MeBizarro
MeBizarro's picture

Even for a state rep, this is one of the dumber things I have seen in a while. 

Wed, 02/20/2013 - 00:44 | 3258504 sun tzu
sun tzu's picture

It's as dumb as those wanting to confiscate guns. If certain idiots want to get rid of the 2nd amendment, why not go all the way and get rid of the 1st amendment too?

Tue, 02/19/2013 - 17:33 | 3257484 Mr. Mandelbrot
Mr. Mandelbrot's picture

Their, their now.  Watch that spellin' . . .

Tue, 02/19/2013 - 18:41 | 3257670 Northern Lights
Northern Lights's picture

Let me guess, the majority of these "masters" grads working at the club are females and they are either bartenders dressed up as sluts so they get tips, or they're the go-go dancers that dress up like sluts trying to get attention.

Wed, 02/20/2013 - 01:26 | 3258557 Central Bankster
Central Bankster's picture

They must have went to "Pennsylvania School of Business".  Going to school for business and having loans default at 35%?  Lol what kind of "Business" school is this exactly?

Wed, 02/20/2013 - 01:46 | 3258583 RebelDevil
RebelDevil's picture

It's like any other business school. The problem is the same everywhere: There are too many people who want business degrees, especially for finance. That's why they are under enrollment control for business and finance majors. (depending on the college/university).

Now for engineering, the opposite is almost true.

Tue, 02/19/2013 - 18:44 | 3257676 Freddie
Freddie's picture

Hope & Change.  Young people and other tards voted for this.

Tue, 02/19/2013 - 20:50 | 3257933 Taint Boil
Taint Boil's picture



So when Bush was president there were no defaults but when Obama became president it shot up on day one to 62% - WTF, that stupid nigga Muslim …. how did he do it. Its just like someone flicked a switch or something ….. oops secret service at the door again, I’ll be right bac ..<snap>

Tue, 02/19/2013 - 22:08 | 3258067 Taint Boil
Taint Boil's picture




What, no response just down arrows.... 

President Bush = no defaults?

President Obama = a million defaults?

Really? Please explain how and why.



Ok, this is the thing that eludes me. First note that I don’t like Obama – can’t stand him. But please explain how HE did it. Not congress, not the senate, not his administration, not anybody else. How did he the person – Obama - do it and how.


Tue, 02/19/2013 - 23:05 | 3258310 nmewn
nmewn's picture

Well, I didn't junk you (most everyone here knows I don't really care about up & down democracy bullshit/polling) but it could be, just could be, that Obama actually doubled down on our looming default instead of reversing as a prudent course of action?

The power by law (such as it is these days) that resides with the executive (Obama) is he can veto anything that ADDS to the debt & deficit and make Congress (which is the House & Senate for HuffPo readers out there) override his veto.

He didn't and hasn't and won't.

The larger question for my friends on the left is...why have you allowed a coup, formed from the Senate to take over the Executive branch of our government without uttering a word?

Wed, 02/20/2013 - 01:40 | 3258577 Burnbright
Burnbright's picture

Their is just a significant amount of people on these boards who are simply blind to certian facts and bashing Obama is simply a popular meme around here no matter the reason, even if irrational.


I am not defending Obama at all, simply stating that in fact the student default rate has actually little to do with him. Most students are in default for several reasons. Most students I knew while in college just went because it was what you did after high school. We were pushed very hard at every juncture to plan on going as a freshman in high school. Every single vocational job training program on my school campus was gutted. We were shown constant graphs about how much the average wage earner makes with various degree levels, I remember a statistic thrown out there that a college degree would earn you 1 million dollars more in your life time than a high school diploma. We were told things by teachers like "student debt is the cheapest debt you will ever have, it is worth it." After all that regardless if you showed interest in going to a school or not simply taking the SATs put you on a mailing and call list in which you would receive acceptance based on your score. I only applied to one school and I of course was accepted. I didn't actually know what I wanted to do at the time and was very back and forth about the whole idea. My grandfather had mentioned something about paying for my tuition. I got a call from a recruiter for the school and she wanted to take me to the school for a weekend and let me stay there to see how I would enjoy it. To say the least I had a blast, but looking back on the experience I was exceptionally naive about the whole thing. It was a whine and dine job to sucker me in and I fell for it hard. I got to hang out with 2 guys that were both much older than myself and we basically partied all weekend, the recruiter also took me out to dinner several times. When you are that young with no idea of what to do and people throw money, parties, and young women at you what do you think is going to happen?

No one really talked about the non-dischargable debt, or a career path. The hardest question was "what do you want to major in?"

The real reason for the huge default rate is the fact that student loan debt is non-dis-chargeable which is why they will let anyone with a heart beat sign for a student loan. I was somewhat lucky in that I did not take on any private student loan debt. I never had a credit card, never had a car loan. I hated credit but somehow I was blind to the notion that student loans were credit cards but worse. I strongly sympathize with students in default because honestly it isn't really their fault either. You can't really blame a kid for taking candy from someone when they dangle it in front of their face as they ramble on about how great it is. I thought of myself as an adult when I was 18 but I mostly just had my head square up my ass. So what sense does it make to loan someone money for the purpose of education? Thinking about myself I would never loan money to a person based on the premise that they some how get a better career path out of it when they never had held down a full time job. Makes absolutely no sense what so ever. 

Wed, 02/20/2013 - 02:38 | 3258646 Miffed Microbio...
Miffed Microbiologist's picture

Your post is very interesting to me. I guess I'm a bit shocked at your naivety. Perhaps your parents didnt gave you any aid in such matters? Our daughter was determined to go to private college. We advised her not to with student loans. She got some cash from us with the expectation she would repay it ( it won't bankrupt us if she fails to do so), some cash from grandma which means she'll get no inheritance and took out a few loans herself which we, of course, refused to cosign. Her payment is 400/month which is manageable for her at this time. If it ever becomes unmanageable, she at 23 must figure it out.

During the 2000s we like many others were inundated with offers for credit. Our absolute favorite one was an offer for 1.2 million dollars in financing. We were making under $150,000/ year. We laughed our heads off that anyone would be so foolish to offer us that kind of credit at our income level. We don't have genius IQs but we can do math well enough to know we could never pay that back. I guess the realization of this made us suspicious of the whole scenario and, therefore, we decided not to participate. I guess critical thinking and a cautious approach to decisions is just not popular. We raise our children to be nice, not wise. This has got us into a lot of trouble.

I hope what you describe has at least been a learning experience for you and you will never make the same mistake twice. I hope you can somehow escape the prison of those loans and start fresh. I hope the issuers of those loans take some responsiblity for what they have done. It all seems so hopeless.


Wed, 02/20/2013 - 04:06 | 3258682 Burnbright
Burnbright's picture

Each generation has its own lesson to learn it seems. I grew up as a child and young adult in the 90's and that decade seemed to influence me the most when it came to financial decisions. I remember very vividly thinking to myself that borrowing x amount of money wasn't a big deal cause it just seemed so accessible at the time. Also you don't really consider the cost of paying off a loan when you are simply trying to pay bills. Like your daughter paying $400 a month in loan costs is a lot of money. I suppose it depends on her cost of living and where she lives but $400 dollars on top of what you have to pay is 1/3 the cost of rent, or a car + insurance + gas for a month or groceries for a month for one person.  For someone who hasn't really entered the workforce yet a yearly income is more of an idea, some goal far off into the future. 

And please don't feel sorry for me. That wasn't the point of my post. I am a very happy family man.



Wed, 02/20/2013 - 04:52 | 3258717 Miffed Microbio...
Miffed Microbiologist's picture

I'm very glad you are happy. Money matters shouldn't be cause for dispair. My daughter is living with 3 other students in a house they rent in Spokane. Her work is within walking distance. She's borrowed a car from grandma who lives 15 miles away but rarely uses it. The only laugh I had was when she told us her budget she had only allotted $100/ month for food. Ah... To be young and foolish again! She called me at the end of her first month and said she was very hungry. Luckily grandma had slaughtered a steer so she had access to protein. So yes she is living incredibly frugally. But she is supporting herself and learning volumes. When she got her job they offered her a reasonable salary with a 10 % commission. She refused it and took the low salary with a 35% commission. They warned her not to do that because normally very experienced people do that and she was just out of college. Of course I begged her to choose the safer route but she said she wanted the challenge. The exuberance of youth. But this is the time to try your wings and make mistakes. At least without a family or anyone else depending on her she can takes some risks.

I didn't mean to sound like I was patronizing you or demeaning you in any way. Everyone makes mistakes and every generation vows not to make the mistakes of the previous generation only to make new unforeseen mistakes. Perhaps this is just the nature of humanity. Being a happy family man must make any money problems at least easier to deal with. I know several people in horrible marriages facing possible bankruptcy and a very uncertain future. That must be true hell! Best wishes.


Wed, 02/20/2013 - 07:13 | 3258773 Taint Boil
Taint Boil's picture



Wow, some readable and intelligent dialog on Zero Hedge.

Tue, 02/19/2013 - 23:51 | 3258420 MeBizarro
MeBizarro's picture

No sense replying to Freddie.  He's just Grade A 100% peckerwood white trash. 

Wed, 02/20/2013 - 00:38 | 3258494 Tijuana Donkey Show
Tijuana Donkey Show's picture

Don't hate on Freddie! Anger is anger, and he's mad as fuck about the system. Some people express it in other ways, Freddie calls it how he sees it. Freddie Unchained!

Wed, 02/20/2013 - 00:57 | 3258497 sun tzu
sun tzu's picture

Only a racist redneck nazi could ever in their drug-induced wildest dreams imagine that Lord Master King God Obama could be flawed in any way

Wed, 02/20/2013 - 19:53 | 3261604 MeBizarro
MeBizarro's picture

Hadn't seen you post your usual worthless trash in a while.  Figured you weren't around anymore. 

Wed, 02/20/2013 - 00:42 | 3258501 sun tzu
sun tzu's picture

Yep, anyone criticizing your Messiah must be a bigot and racist, because we all know that his Highness Lord God Savior Obama can do no wrong. Maybe that's why you got the thumbs down, you inbred drooling chimp

Tue, 02/19/2013 - 19:31 | 3257773 jmc8888
jmc8888's picture

A Nightclub really isn't a good example. Barback/Bus Boys can make nearly a grand a week. I've seen $900, and there's no doubt higher.  $100/hr fake titty waitresses.

Tue, 02/19/2013 - 22:25 | 3258195 cynicalskeptic
cynicalskeptic's picture

See... A 'Women's Studies' degree CAN pay .......

Tue, 02/19/2013 - 22:45 | 3258252 BidnessMan
BidnessMan's picture

their masters


Tue, 02/19/2013 - 23:23 | 3258348 e_goldstein
e_goldstein's picture

(it's actually donkey)

Tue, 02/19/2013 - 16:47 | 3257341 nope-1004
nope-1004's picture

Intelligent dead beats.


Tue, 02/19/2013 - 17:16 | 3257439 Dr. Richard Head
Dr. Richard Head's picture

Dead beats?  Hell no.  With "Berea College of Kentucky, which supposedly costs negative $20,746 per year" they are following the primary dealer bank model.  You might just want to call these institutions Primary Education outlets, come to think of it.

Tue, 02/19/2013 - 17:00 | 3257395 Groundhog Day
Groundhog Day's picture


Tue, 02/19/2013 - 17:20 | 3257444 McMolotov
McMolotov's picture

There's a mildly dirty joke about beating dead horsemeat in here somewhere.

Tue, 02/19/2013 - 18:11 | 3257594 TideFighter
TideFighter's picture

Cannibus College Graduates always pay back their loans. In cash.

Tue, 02/19/2013 - 19:14 | 3257745 Dingleberry
Dingleberry's picture

Horsemeat dollars.......courtesy of Heli-Ben

Tue, 02/19/2013 - 19:53 | 3257815 Kickaha
Kickaha's picture

Oh fuck all.  This is so simple.  Just make the school a guarantor of each loan.  Problem disappears overnight.  Since it is the school, and not the student, who is the primary benefactor of the koan, this plan is actually fair to all.

I'm not quite sure what all those inept instructors and so-called administrators will do after enrollment plummets as the schools refuse to guarantee loans to the druggies and remedials, but they are unlikely to be able to find anyway to do as much harm to society as they are doing now.  And the kids can do something productve like cleaning up their basement living space.

Tue, 02/19/2013 - 22:43 | 3258243 BidnessMan
BidnessMan's picture

The world would be a better place if all the inept instructors and education bureaucrats had to get honest jobs actually producing something of value.

Wed, 02/20/2013 - 00:46 | 3258508 sun tzu
sun tzu's picture

That's racist. We must keep the status quo of miserable failure. You probably want to go back to the Jim Crow era

Tue, 02/19/2013 - 21:10 | 3257986 Buck Johnson
Buck Johnson's picture

Your exactly right, Horesemeat education.  If they don't allow all student loans back onto bankruptcy, they will have a whole generation that won't have money to buy a house.

Tue, 02/19/2013 - 16:45 | 3257333 natronic
natronic's picture

I don't default I just keep putting them off until the US $ fails.

Tue, 02/19/2013 - 19:44 | 3257796 CPL
CPL's picture



You win resources that you can contribute to other facilities in your life to shield yourself from the incoming shit storm that isn't a possibility.  It was established as a mathematical certainly after QE 2.5.  Right now, there is little reason to refund those loans.  In any country.

1) Either you can wait for the inflation to outpace your loan and you'll only need to dismiss your loan with a hard asset like fresh eggs and maybe a loaf of bread.


2) The whole thing implodes in a deflationary death spiral all banks that issue currency and manage it are crushed by huge sums of liquidity and their own existing debt loads.  Because remember TARP was a loan, an interest baring loan put into a fractional reserve banking system then the endless price manipulation using the ETF/ETN markets.

That is the cost and end result of having a single currency acting as a reserve currency.  There is never a good outcome to that story, especially with fiat.  Rome lost her place with cheap currency.  Egypt disappeared into a desert because of it.  Mesopotamia ditto.  Every single one of the Chinese dynasties as well.  And every cyclical Khan.  It's what always happens. 

Doesn't take much.  Imagine every conversation being spoken in capitols now are the exact same conversations that have been had at similar times through out history.  Just that the reception is better and information travels at light speed.

Tue, 02/19/2013 - 16:49 | 3257340 Bam_Man
Bam_Man's picture

Every school on that list is a f**king "diploma mill", so is it any surprise the students are defaulting en masse?

Tue, 02/19/2013 - 18:00 | 3257561 kaiserhoff
kaiserhoff's picture

A couple of the aviation schools are not, but yeah, pretty much.

Tue, 02/19/2013 - 23:50 | 3258419 Curiously_Crazy
Curiously_Crazy's picture

And it's the aviation schools that have some of the highest drop out rates; people think they can rock up and fly like a top gun right off the bat. Then they find out the required subjects; from Advanced propulsion systems to electrical engineering and avionics to physics and meteorology. 

I guess all Uni's are different but I found my Aviation degree more difficult than the computer science degree I got many moons ago because the workload is really quite hectic (and at our school we were required to undertake flight training concurrently).

Do I regret it? not at all because I've always wanted to fly. Will I get a job paying more than about $45,000 in the next 10 years? extremely doubtful as Pilots are just a commodity these days..  it's a shame but life moves on.


Tue, 02/19/2013 - 19:26 | 3257768 ali-ali-al-qomfri
ali-ali-al-qomfri's picture

Quantitative Education

Tue, 02/19/2013 - 16:48 | 3257347 TuesdayBen
TuesdayBen's picture

How do you say 'party school' in Spanish?

Tue, 02/19/2013 - 16:49 | 3257355 Cognitive Dissonance
Cognitive Dissonance's picture

Maker's Mark?

Tue, 02/19/2013 - 17:14 | 3257432 Crisismode
Crisismode's picture



It's too watered-down now.


Tue, 02/19/2013 - 17:27 | 3257463 Anglo Hondo
Anglo Hondo's picture

Just today changed their minds - now back to original, no water.

Check it out...


Tue, 02/19/2013 - 18:41 | 3257668 gmrpeabody
Tue, 02/19/2013 - 16:54 | 3257372 Tsunami Wave
Tsunami Wave's picture

Puerto Ricans are so effing useless as people and skilled workers.  Most of them are awful with awful personalities and awful egos.

Tue, 02/19/2013 - 17:37 | 3257493 SilverIsKing
SilverIsKing's picture

That's not a very nice thing to say.

Tue, 02/19/2013 - 19:06 | 3257717 Tsunami Wave
Tsunami Wave's picture

Go hang around any populated area of Florida and live there for a while and see for yourself.  Also, they're some of the biggest users of some of our entitlements.

Tue, 02/19/2013 - 19:13 | 3257736 SilverIsKing
SilverIsKing's picture

I'm not saying that I don't agree with you.  I'm just saying it's not nice to say such mean things about people.  Like my mother used to say to me.

Tue, 02/19/2013 - 20:58 | 3257948 Ima anal sphincter
Ima anal sphincter's picture

I see no problem with calling someone a lazy useless puke if he "is" a lazy useless puke.

Same thing as calling someone a brainwashed sheeple.

Maybe folks need to have their reality shoved right into their face.

Truth: Pass it on..... hopefully it's contagious.

Wed, 02/20/2013 - 01:58 | 3258604 RebelDevil
RebelDevil's picture

Fuck you and your racism!
Being unskilled and highly egoic is a problem that orginates from bad families, not entire races or nations.

Tue, 02/19/2013 - 18:05 | 3257578 kaiserhoff
kaiserhoff's picture

Quiero cervezas y chicas?

Shit, I can't spell in Spanish, either.

Wed, 02/20/2013 - 04:58 | 3258718 matrix2012
matrix2012's picture

"How do you say 'party school' in Spanish?"

Escuela del partido

Party, Sex, Drugs, Life, Live, Love, Fun, Don't Ever Stop Living Life To It's Fullest Potential!  PNP

Wed, 02/20/2013 - 07:37 | 3258793 cahadjis
cahadjis's picture

Try Escuela de fiesta instead :-)

Tue, 02/19/2013 - 16:49 | 3257349 Cognitive Dissonance
Cognitive Dissonance's picture

Holy student loan scam Batman.

Tue, 02/19/2013 - 17:21 | 3257452 McMolotov
McMolotov's picture

Quick! To the Batmobile (before it's repossessed)!

Tue, 02/19/2013 - 16:49 | 3257351 israhole
israhole's picture

They just need a version of the United Negro College Fund.

Tue, 02/19/2013 - 17:21 | 3257448 CH1
CH1's picture

Ah, I see you enjoy insulting blacks too.


Tue, 02/19/2013 - 17:37 | 3257494 israhole
israhole's picture

Quit your whining, and while you're at it here's an assignment....

Wed, 02/20/2013 - 08:38 | 3258749 matrix2012
matrix2012's picture


And the original works at The Ministry Of Truth :-)


I do love the name, this guy, Winston Smith, really has the wit

The Elie Wiesel Affair: in Hungary, the real meaning of Miklos Grüner’s lawsuit against rabbi Shlomo Köves



While at The Ministry Of Truth, check this one too:

7,000,000 killed at Auschwitz, hears the Nuremberg trial

On Tuesday, January 29, 1946, M. Charles Dubost, a French Deputy Chief Prosecutor at the big Nuremberg trial, read from document RF-140:

The first page of Document Number F-140 states—and I quote so as not to have to return to it again—in the fourth paragraph which deals with Auschwitz: "About seven million persons died in this camp."


"The Joos are somewhat right in saying that the Holocaust is the "Most documented event in history".

Indeed this phrase comes in at number one in the Hasbara booklet for Jooish activists on the internet when a commentator questions the events of the so called Holocaust.

Unfortunately for them is the fact that the documents contradict each other.

But fortunately for them anyone pointing out the contradictions have a good chance of either being put in jail or lost one's job."


Thank to the harsh Anti-Semitic Laws in the Anglosphere / NATO jurisdiction, nothing to discuss/refer/quote/read/write/... officially but the sanctioned versions. Case closed!!


Tue, 02/19/2013 - 20:06 | 3257844 mootsman
mootsman's picture

UNCF is running dry.  Evidently music production is less lucritive than one may be led to believe.

Tue, 02/19/2013 - 23:00 | 3258295 Hulk
Hulk's picture

Little known fact that Richard Pryor was a huge contributor to the ignited negro college fund...

Tue, 02/19/2013 - 16:49 | 3257356 Tijuana Donkey Show
Tijuana Donkey Show's picture

"Berea College of Kentucky, which supposedly costs negative $20,746 per year, has its students borrow $6,500 on average, with 5% of them defaulting on ther loans"

You've never been to Kentucky. Never trust a state with a jelly named after it. (The answer is KY, in case you don't get it.)

Tue, 02/19/2013 - 17:24 | 3257453 puckles
puckles's picture

Berea College students are 100% work/study funded, i.e., a combination of college-sourced work and scholarship.  They are nearly all local and very poor.

Tue, 02/19/2013 - 17:40 | 3257508 Tijuana Donkey Show
Tijuana Donkey Show's picture

"All local and very poor" is a very good description of Kentucky, or as we call it, "Ohio's Mexico." They run off the 3 M's: Meth, moonshine, and marijuana. I'm pretty shure that the 3M's are 90%+ of the economy down there. The last 10% is SSI.........


Note: I visit KY all the time, so hate if you want puckles, you know I speak the truth.

Tue, 02/19/2013 - 23:58 | 3258434 Curiously_Crazy
Curiously_Crazy's picture

They run off the 3 M's: Meth, moonshine, and marijuana.


When can I move in?

Wed, 02/20/2013 - 00:48 | 3258510 Tijuana Donkey Show
Tijuana Donkey Show's picture

Any time you want! I work in a border town (with Ohio/Indiana) of KY, and when I drive through the neighborhood to the office, I play a game called "Trash or moving day." People have items out at the curb, and it's a strech to tell if it's trash, or moving day. The thing that has been HARD is that I've been wrong lately; I've found trash day is mostly moving day, and the bedbugs are about the same. 

If you want to move KY, they are waiting. Just be careful, they are not a group to be fucked with. They run the 3 M's, and they do not like outsiders....

Wed, 02/20/2013 - 03:36 | 3258670 Curiously_Crazy
Curiously_Crazy's picture

Though I was just being silly, I just want to say of all the states I'd visited in the US I enjoyed the.. umm.. what do you guys call it... "fly over states" the most. They are genuine, down to earth, and call a spade a fuckin spade. Exception to this rule that are outside the flyovers is Washington state (shit weather but lovely landscapes and people) and Texas (nice weather and a bit clinical but the people were bloody awesome. I bought many a beer for blokes in texas and they were happy to return the favour) California is a pretend nice weather state.. seriously.. it aint great. Calls itself Mediterranean climate but no way in hell is it except for a very very small part.

Florida reminded me of an amusement park (all those disgusting pink/mauve/purple buildings, and their beaches are shit anyway) Washington DC reminded me of an anthill, NY was just... fake. But the inland states like Nevada and and the Dakotas were pretty cool (in terms of people living there and wanting a good chat).

I've never lived anywhere in the US nor would I want to given whats coming. Just trying to give some perspective to those living there from an outsiders point of view - which is what I love about this site. We hear shit from all over.


Wed, 02/20/2013 - 08:40 | 3258790 matrix2012
matrix2012's picture

The dollarcollapse link has a good read.

Tue, 02/19/2013 - 16:51 | 3257360 Bunga Bunga
Bunga Bunga's picture

Do debt collectors come to Puerto Rico?

Tue, 02/19/2013 - 17:27 | 3257461 ATM
ATM's picture

No. I am sure that the rule that you cannot escape student loan debt doesn't apply to PR. We save that suckers rule for actual citizens.

Tue, 02/19/2013 - 16:53 | 3257362 JustObserving
JustObserving's picture

I prefer Concordia College, Alabama, with a default rate of 42% and a graduation rate of 3%.

Yes, we can

Tue, 02/19/2013 - 16:55 | 3257379 The Heart
Tue, 02/19/2013 - 17:53 | 3257544 AssFire
AssFire's picture

I believe the woman who stated:

"We gots to keep Obama in President, Ya Know!"

attended that university

Tue, 02/19/2013 - 16:52 | 3257365 Stuck on Zero
Stuck on Zero's picture

The list is not accurate from an important aspect: Large numbers of students at many of these schools are getting all-expense paid educations courtesy of Uncle Sam.  If you are lucky enough to be from a government decreed privileged class you can obtain any of a hundred free scholarships.  Pell Grants are the most ridiculous example.  If you lump this money in as never being paid back the loan rate default for the University of California and others would soar.  It's the middle class and people trying to better their lives who are getting shafted.\


Tue, 02/19/2013 - 16:53 | 3257368 Alcoholic Nativ...
Alcoholic Native American's picture


Tue, 02/19/2013 - 16:53 | 3257369 Lost Wages
Lost Wages's picture

The default rate at my college is only 2%, but we had a lot of rich mofos there. So whether they got jobs or not their loans got paid off by someone.

Tue, 02/19/2013 - 16:58 | 3257388 Bunga Bunga
Bunga Bunga's picture

Rich mofos pay upfront.

Tue, 02/19/2013 - 17:28 | 3257466 ATM
ATM's picture

Straight cash, Homey!

Tue, 02/19/2013 - 18:59 | 3257702 CPL
CPL's picture

Or people with enough common sense to work two jobs over a summer and work full time while going to school.


...does this even happen anymore?

Tue, 02/19/2013 - 19:35 | 3257782 IridiumRebel
IridiumRebel's picture

I'm doing that with a 14 month old and a wife that works full time while I work 40 hours a week. I pay as I go. I have a 3.7 GPA and am the lead delegate for the University in our Model United Nations trip(looks good in the transcript). I'm going to Law School. I'm already setting up meetings with firms. People without a job after a degree are not applying themselves. I know the market sucks, but you cannot stop until you have the job you want or at least on the path to it.....

Tue, 02/19/2013 - 19:52 | 3257812 CPL
CPL's picture

No clue who's junking you...Good luck to you and yours, you'll do alright.  

Just make sure you take the old lady out for a nice time once a quarter, the dividends on that type of investment are long term and gains are strong.  As you can see the 14 month recently obtained asset is a lot of fun, it's going to have it's ups and downs, but you'll see an awesome and versatile end product if you monitor the maturity and keep educating yourself as one of the principal trustees of your asset.


Tue, 02/19/2013 - 20:09 | 3257842 IridiumRebel
IridiumRebel's picture

Ok....I'm alright. I just cried a little but I'll be fine now. I always cry when I get down voted. Thank you. My fragile self confidence just can't handle being down voted.

Meh. In all honesty it's prolly the mention of lawyer or United Nations. I choose to exact change instead of being a limp dick bitching on an anonymous forum. Cheers!

Tue, 02/19/2013 - 20:29 | 3257887 CPL
CPL's picture

I'll hold you.  There

Tue, 02/19/2013 - 22:06 | 3258129 CaptainObvious
CaptainObvious's picture

I want to upvote you because you're paying as you go, but I want to downvote you because you're going to law school, which is one of the most overcrowded professions out there.  So I'm just going to keep my arrow finger to myself. ;)

Wed, 02/20/2013 - 00:11 | 3258454 Yen Cross
Yen Cross's picture

I'm the biggest pussy on Z/H!  I need to listen to buzz and yourself moar... I have a habit of taking things too personally. I care too much! I hate to see people fail!


Wed, 02/20/2013 - 00:50 | 3258513 Tijuana Donkey Show
Tijuana Donkey Show's picture

Yen, you post enough to the point where you need to get a avatar! People can't think your a bot.

Tue, 02/19/2013 - 22:34 | 3258220 BidnessMan
BidnessMan's picture

Probably got junked for mentioning law school.  If most of the lawyers would apply their talent to honest work in a different profession, we would all be better off.

Tue, 02/19/2013 - 21:03 | 3257940 IridiumRebel
IridiumRebel's picture

I love it. People sit here and bitch about EBT nation and I post about frugality and achievement and I get junked. Maybe it's the arrogance. I'll try to piss off the boss, fuck up school, cheat on my wife and never talk to my child again, go on unemployment followed by disability and then pass the fucking bill in to you all. Cool? I got a Wii just collecting dust and a shitloa of Netflix movies I've been missing.....

Tue, 02/19/2013 - 23:25 | 3258357 traderjoe
traderjoe's picture

It's fight club.

Tue, 02/19/2013 - 22:34 | 3258221 cynicalskeptic
cynicalskeptic's picture

Might want to rethink the Law Degree......   damn near every attorney I know (including the big firm partner, top school, law review, Federal court clerk - top of the top) say it was the biggest mistake they ever made.  The return on selling your soul and life isn;t what you'd think.  Those who went to 'lesser' schools and followed the ADA, corporate or private practice route are scraping by, paying off huge loans and worried to death (almost literally) about having a heart attack from the stress.

The only ones who love it are ethics-deprived soul-less slimes who revel in the cesspool.

Tue, 02/19/2013 - 23:55 | 3258427 MeBizarro
MeBizarro's picture

Some people are junking you simply because they are a$$holes who are likely older and life has passed them by leaving them embittered and nasty.  Pay them no heed. 

Wed, 02/20/2013 - 00:55 | 3258518 Arkadaba
Arkadaba's picture

I upvoted you for the obvious reasons but do take exception to "people without a job after a degree are not applying themselves". I've had a wild and woolly ride (with a degree and 4.0 GPA and experience) since 2008.

The upside is that I have questioned everything I've ever been taught about jobs, careers, money and finance. I have been lucky in that I've always have had jobs that corresponded to my passions. In short, for the most part, I have had jobs that I loved. Right now I have launched my own business (only a few customers) and have a contract with a university (woefully underpaid) that keeps me going. But ... I am on this weird spiritual road (and I'm not like that) figuring out what is important and why self worth in the past was so closely associated with what I did for a living when it should not have been.

My plan for the next 5 years? Self sufficiency. How I will achieve that? Not sure. I may take a "job" but will never see the "job" as the end goal unless it it is my own company.

I started peering down the rabbit hole when Clinton was in power. 2001 accelerated that process and pushed me to look at economics. I think that is when I did a have a small eureka moment. Marched against Iraq war and hated Bush and Cheney. I have to admit I got sucked in with Obama in that I really thought there might be a change .... not.

Little bears have helped in my financial education over the past few years but just saw this and ... yeah:

Wed, 02/20/2013 - 08:41 | 3258847 matrix2012
matrix2012's picture

@ Arkadaba, it's a good documentary that one should watch!



The Secret of Oz - Winner, Best Docu of 2010 v.1.09.11  (Uploaded on Feb 2, 2011)


"This version finally CUTS several BOGUS quotes which have festered in the monetary reform literature for decades.

[This is to say that the creator, Bill Still, already disassociated himself from The Money Masters because of more made-up quotes and the person who controls the business side of it won't let Bill edit it. It's explained in his book: "No More National Debt"]

The world economy is doomed to spiral downwards until we do two things:

1. outlaw government borrowing;

2. outlaw fractional reserve lending.

Banks should only be allowed to lend out money they actually have and nations do not have to run up a "National Debt".

Remember: It's not what backs the money, it's who controls its quantity."

Btw, Bill is seeking out help for some donation, just check his u-tube page.


Tue, 02/19/2013 - 22:31 | 3258214 BidnessMan
BidnessMan's picture

RIch MoFos pay for their tuition plus the tuition of at least one "scholarship" recipient.  The dumb schmuck whose parents actually saved money for college are big-time subsidizing the parents who did not. 

On the other hand, the math challenged lottery ticket buyer is subsidizing college costs at state schools - so maybe it balances out?

Tue, 02/19/2013 - 22:40 | 3258238 cynicalskeptic
cynicalskeptic's picture

First in family to go to college - saved like mad and my kids will get out without any debt BUT yeah, we get f*cked paying full freight.  Do the right thing, wait to have kids, limit how many you have, have bright intelligent ones at the top of their classes, save for their education instead of blowing your money on a big house and BMW and yeah, you get screwed.  

But would still rather pay full freight and have them get out debt-free with a nest egg and a future.   They know how screwed up the world is and are responsible financially - they know how much better off they are than those loaded up with debt or going to crap schools.  They may actually have a chance to change the world - unlike the majority who end up as an Assistant Manager at Jack in the Box (a cousin is very proud of his oldest, a college grad, who's doing just that).

Tue, 02/19/2013 - 16:54 | 3257376 Joe Davola
Joe Davola's picture

Visual arts degrees are very expensive.  Hard to imagine what the graduates of The New School would do without all the advocacy groups funded by the Ford Foundation.

Tue, 02/19/2013 - 16:56 | 3257385 delacroix
delacroix's picture

de spic able

Tue, 02/19/2013 - 16:59 | 3257390 Sach Mahoney
Sach Mahoney's picture

Why pay when Benke can print and make it all go away?  No problem.  Taxpayer to the rescue.  I am so sick of this crap.  

Tue, 02/19/2013 - 16:59 | 3257391 youngman
youngman's picture

Say I was a government Loan inspector......and I uncovered this......i would assume you would go to your supervisor to show this detail....and they would go to theirs....but somewhere..someone would stop you from doing anything...because its a wink wink redistribution of wealth thingy....this is our government now......yesterday some jobs corp was ended because of mismanagement......which means the employees took all the money...and there was not one jobs corp reciepient....but yet....noting to cut in the budget..nothing

Tue, 02/19/2013 - 16:59 | 3257392 rsnoble
rsnoble's picture

Just bought 10 cases of Buffalo rounds today, 300gr.  Paid dearly.  $2.00 per bullet, 20 per case.

I have many others but less expesive types.

Tue, 02/19/2013 - 19:05 | 3257715 Stuck on Zero
Stuck on Zero's picture

Are you a loan collector for one of those 2% schools?


Tue, 02/19/2013 - 17:01 | 3257400 Goggles Pisano
Goggles Pisano's picture

I think "The Creative Center" in Nebraska is just an expensive daycare facillity.

Tue, 02/19/2013 - 17:06 | 3257412 NotApplicable
NotApplicable's picture

I'd say that most all of them are.

Tue, 02/19/2013 - 17:03 | 3257407 Tsunami Wave
Tsunami Wave's picture

According to what I've seen so far on the WSJ Interactive section, the schools that have the highest default rates are the ones that are completely useless - i.e.: University of Phoenix, arts and acting schools, other for profit schools, no-name schools, etc.

Tue, 02/19/2013 - 17:07 | 3257415 Kim Jong-Il
Kim Jong-Il's picture

Love those "I'm a phoenix" commercials.

Most of them look like SEIU members.

Tue, 02/19/2013 - 18:12 | 3257455 McMolotov
McMolotov's picture

I looked up phoenix in the dictionary, and one of the alternate definitions was "fucking sucker."

Tue, 02/19/2013 - 22:08 | 3258137 CaptainObvious
CaptainObvious's picture

It's a proven fact that 82% of University of Phoenix online graduates can't even spell "phoenix".  The other 18% didn't bother to show up for the spelling test because they had an urgent bong party to attend.

Tue, 02/19/2013 - 22:42 | 3258240 cynicalskeptic
cynicalskeptic's picture

Hey, hey... all those Ph.D's in Education - your public school superintendents and such making a nice 6 figure salary  - couldn't have gotten their jobs without that Phoenix degree

Tue, 02/19/2013 - 17:10 | 3257422 ebworthen
ebworthen's picture

The State schools are just as bad, and in many aspects are private for-profit enterprises anyway that simply siphon taxpayer money to run franchises, sports empires, and grant churning for ideologues that do nothing for society.

Tue, 02/19/2013 - 17:26 | 3257454 Tsunami Wave
Tsunami Wave's picture

True, a lot of them are bad with their unions, enriching themselves, spending their money in bad places, etc.  Those schools though have around 2-10pc default rates (The "worse" ones being on the worser end of the default rate).  Those junk schools i mentioned in the post above though have the highest default rates.

Moral of this lesson.. (amonsgst many other lessons from this of course): Stop fucking gaurenteeing federal loans for useless schools.

Tue, 02/19/2013 - 17:30 | 3257473 ATM
ATM's picture

I think you mean stop guaranteein federal loans for ALL schools.

Tue, 02/19/2013 - 18:29 | 3257645 ebworthen
ebworthen's picture

I agree with ATM.

Federal loans provide a slush fund for the schools so they can overpay ideologue professors and administrators.

The money also goes to the secondary lampreys:  textbooks, housing, Dell and Apple.

It's a parasitic structure, levered promises and dreams, without requisite reward.

Meanwhile, it funds an intelligentsia removed from reality (eg. - Krugman).

Tue, 02/19/2013 - 23:59 | 3258437 MeBizarro
MeBizarro's picture

That is a gross overgeneralization and the biggest damn problem for years and years in higher education is the lack of hard numbers that really matter including 4-year graduation rates, employment rates at graduation (say within 6-months) with detailed legit info on different kinds of employment, and salary information/net worth collected at say 5, 10, and 20 years. 

Tue, 02/19/2013 - 20:00 | 3257830 CPL
CPL's picture

I'm torn between the exciting and rewarding programs that offer me a career selection of cold drink preperation and temp work with similar debt to a 4 year college.  


Youtube is now the world leading center of learning.  Not Yale, Harvard,; dancing horse videos, dongcopter pirate and every subject presented on the planet.

Tue, 02/19/2013 - 17:08 | 3257416 ebworthen
ebworthen's picture

Higher Education is Higher Affirmation.

They sell degrees the way they do paper towels or toilet paper.

"It will change your life, the sun will come out, your counter shiny, your butt crack will be clean."

But really, it's just paper, and you'll still need a scrub brush and a good shower.

Tue, 02/19/2013 - 22:46 | 3258258 cynicalskeptic
cynicalskeptic's picture

It's a screening process.   Always has been.   Look at the Ivies.  Hoigh grad rate, minimal default rate.  Simply GETTING IN is the challenge.  If you're part of the capitalist Nomenklatura you have a spot - a few are goven top the truly ambitious and talented willing to play the game.  Once you're in.... you're pretty much guaranteed graduation and the ticket for the rest of your life.   It either 'validates' the standing your family already had or provides entry for the selected few allowed past the barricades.

Wed, 02/20/2013 - 00:57 | 3258521 RebelDevil
RebelDevil's picture

I have a friend who goes to U Penn now. He grew up in a middle class family. He busted his ass in HS, and was definitely compliant towards all of the rules and expectations of his teachers and adminstators, and got a 4.0 GPA.
So to get into an Ivy, you need to either be born into the very wealthy and well connected, or you sell your independence over to the system (be a suck-up and comply). I only disagree with you on that graduation is guaranteeed; he hasn't spoken to me in months because he's been so busy from the higher standards of school work.

Tue, 02/19/2013 - 17:07 | 3257417 alien-IQ
alien-IQ's picture

I imagine that the 14% unemployment rate in Puerto Rico isn't helping matters. Mind you, 14% is the nice/feel-good government issued number. The "real" rate is likely much much higher.

Tue, 02/19/2013 - 17:12 | 3257426 q99x2
q99x2's picture

Why work when you can get paid to meet young women in college. That's what I'm talking about.

Tue, 02/19/2013 - 17:13 | 3257427 earnyermoney
earnyermoney's picture

My favorite is Golf Academy of America - Myrlte Beach

Tue, 02/19/2013 - 17:13 | 3257428 Yen Cross
Yen Cross's picture

 62% indoctrination failure rate. LMAO!

Tue, 02/19/2013 - 17:57 | 3257550 CunnyFunt
CunnyFunt's picture


The New School <--- LOL

Tue, 02/19/2013 - 17:13 | 3257430 NEOSERF
NEOSERF's picture

72% default rate...clearly the Bernie Madoff school of Economics is teaching the correct things...

1.  Take government money

2.  Get job that pays under the counter

3.  Default and stick it to banks(this is called "doin the Ice[land] in the inner city)

4.  Buy $300K home on $24K per year

5.  Live without paying mortgage...take more gov money or live rent free

6.  "Do the Ice" again every three years

Tue, 02/19/2013 - 17:27 | 3257440 Kirk2NCC1701
Kirk2NCC1701's picture

Mr. Spock just informed me that an even more interesting number is the product of the (Default Rate)*(Median Borrowed).  That will show you which college is most likely to saddle its students with the biggest debt.  Thank you, Mr. Spock.

Do NOT follow this link or you will be banned from the site!